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Electric Bill to go up by 47% next month
Old 06-18-2022, 02:28 PM   #1
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Electric Bill to go up by 47% next month

Yesterday the news announced that NH's largest provider of electricity, Eversource, was increasing their "Energy Charge" from 10.7 cents per kwh to 22.7 cents per kwh due to increased fuel charges primarily related to the natural gas used by power plants. Eversource electric bills are made up of 7 line items of cost and the overall projected increase in residential electric bills will increase by 47% next month.

In my mind this is the second of three economic gut punches. First is the $5 or more gasoline, now a 47% increase in the electric bill and next will be the arrival of home heating oil trucks come late fall delivering 180 gallons every 4 weeks or so for $1000 or more.

I believe everyone's actual inflation rate is far higher than the government's 8.7% due to the increase in energy costs alone.

https://www.wmur.com/article/new-ham...61622/40314355
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Old 06-18-2022, 02:43 PM   #2
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Quote:
Originally Posted by shotgunner View Post
Yesterday the news announced that NH's largest provider of electricity was increasing their "Energy Charge" from 10.7 cents per kwh to 22.7 cents per kwh due to increased fuel charges primarily related to the natural gas used by power plants. Eversource electric bills are made up of 7 line items of cost and the overall projected increase in residential electric bills will increase by 47% next month.

In my mind this is the second of three economic gut punches. First is the $5 or more gasoline, now a 47% increase in the electric bill and next will be the arrival of home heating oil trucks come late fall delivering 180 gallons every 4 weeks or so for $1000 or more.

I believe everyone's actual inflation rate is far higher than the government's 8.7% due to the increase in energy costs alone.
but dont worry, buy that electric vehicle!
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Old 06-18-2022, 02:55 PM   #3
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I believe everyone's actual inflation rate is far higher than the government's 8.7% due to the increase in energy costs alone.
I think they dropped a digit. Surely just an accounting error.
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Old 06-18-2022, 03:09 PM   #4
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Originally Posted by shotgunner View Post
Yesterday the news announced that NH's largest provider of electricity was increasing their "Energy Charge" from 10.7 cents per kwh to 22.7 cents per kwh due to increased fuel charges primarily related to the natural gas used by power plants. Eversource electric bills are made up of 7 line items of cost and the overall projected increase in residential electric bills will increase by 47% next month.

In my mind this is the second of three economic gut punches. First is the $5 or more gasoline, now a 47% increase in the electric bill and next will be the arrival of home heating oil trucks come late fall delivering 180 gallons every 4 weeks or so for $1000 or more.

I believe everyone's actual inflation rate is far higher than the government's 8.7% due to the increase in energy costs alone.
Wow! I'l have to talk with my sister in Connecticut to see if they are facing increased costs for energy such as this.
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Old 06-18-2022, 03:11 PM   #5
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PA just went up 47% on June 1.

https://www.abc27.com/pennsylvania/e...inning-june-1/
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Old 06-18-2022, 04:23 PM   #6
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Originally Posted by shotgunner View Post
Yesterday the news announced that NH's largest provider of electricity, Eversource, was increasing their "Energy Charge" from 10.7 cents per kwh to 22.7 cents per kwh due to increased fuel charges primarily related to the natural gas used by power plants...
Natural gas price is 2x the price 1 year ago.

Yet, it has come down from the top 2 weeks ago, when it was almost 3x.

I think your utility has been slow to increase the cost of electricity. Or perhaps they need approval from the state commission.
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Old 06-18-2022, 04:31 PM   #7
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Natural gas price is 2x the price 1 year ago.

Yet, it has come down from the top 2 weeks ago, when it was almost 3x.

I think your utility has been slow to increase the cost of electricity. Or perhaps they need approval from the state commission.

I'm pretty sure all utility rate increases have to be approved by a state's PUC before they announce them.
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Old 06-18-2022, 04:34 PM   #8
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Ouch, here in Illinois, our energy rate went from 4.5 to 7.5, which is locked for 3 years. The overall rate with delivery and taxes is about 17. Of course our problem is the state government brain trust forced coal plants to close with no real plan to replace them.
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Old 06-18-2022, 04:35 PM   #9
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Originally Posted by NW-Bound View Post
Natural gas price is 2x the price 1 year ago.



Yet, it has come down from the top 2 weeks ago, when it was almost 3x.



I think your utility has been slow to increase the cost of electricity. Or perhaps they need approval from the state commission.


Yes, some allow immediate pass through, some need the regulatory blessing which lags a bit. My house isnt huge thankfully and if it goes up 50% in dead heat of summer yes it would suck. But even then it would be $7 a day to stay absolutely comfortable. I would go get a job before I would turn up my thermostat to save a few bucks and sweat!
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Old 06-18-2022, 04:45 PM   #10
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Yes, some allow immediate pass through, some need the regulatory blessing which lags a bit. My house isnt huge thankfully and if it goes up 50% in dead heat of summer yes it would suck. But even then it would be $7 a day to stay absolutely comfortable. I would go get a job before I would turn up my thermostat to save a few bucks and sweat!
$7/day is nothing compared to the misery of a blackout. Let's pray it will not come down to that.
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Old 06-18-2022, 04:57 PM   #11
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Originally Posted by NW-Bound View Post
Natural gas price is 2x the price 1 year ago.

Yet, it has come down from the top 2 weeks ago, when it was almost 3x.

I think your utility has been slow to increase the cost of electricity. Or perhaps they need approval from the state commission.
This is clearly misinformation. It will be reported to the Ministry of Truth.
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Old 06-18-2022, 05:10 PM   #12
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$7/day is nothing compared to the misery of a blackout. Let's pray it will not come down to that.

I hope not also for others, as its happened in Ohio recently. Fortunately in my area we are an old school triple vertical regulated utility with plenty of power. Have an old coal plant ready as a back up peaker plant too if needed.
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Old 06-18-2022, 05:19 PM   #13
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I'm in the Kansas City area and in January our natural gas provider announced a rate increase- the price they were paying for natural gas had doubled. The impact on the average homeowner, they said, would be 2.8% or $1.72 per month. I have no idea how the regulators let them get away with that claim. The math was impossible. Posts on NextDoor.com noted bills that were at least 150% of what they were the previous year even with minimal change in usage. Our fixed monthly cost is about $20 so most of the bill is the variable cost of gas used- you can't have that double and have the total bill increase by only 2.8%.

I have no problem with their statement that gas costs have doubled but the "average" impact was Total BS and a lot of people are hurting.
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Old 06-18-2022, 05:28 PM   #14
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As of June 1, 2022, NJ customers of various electric utilities will see slight drop in the average bill.

https://www.app.com/story/money/busi...ls/6707871001/
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Old 06-18-2022, 05:32 PM   #15
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A utility here in Illinois announced electric bills would go up an average of $600 per year beginning in June. I'm not using that particular utility, but I expect mine to jump up also. It seems like everything is shooting up in price very quickly, faster than inflation numbers to this point.

https://www.sj-r.com/story/news/poli...st/9946436002/
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Old 06-18-2022, 05:38 PM   #16
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I saw the other day that a big LNG plant in Freeport, TX had a fire/explosion and will be out of commission until late summer/early fall. This will surely drive down NG cost here in the states and drive them even higher in Europe.
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Old 06-18-2022, 06:01 PM   #17
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Old 06-18-2022, 06:04 PM   #18
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Itís crazy. Our local utility lowered rates from 8.2 to 7.7 on June 1. It will adjust again in Sept so there may be sticker shock at that time. Luckily I locked in at 6.9 cents for another year or so I think. Using the Electric and Gas Choice programs has worked out well for us. Yesterday the local utility did a free HVAC tuneup. Iíve been dodging them because I suspected a hard sell but they said our 22 yr old builder grade unit os OK.
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Old 06-18-2022, 06:23 PM   #19
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Electric bills went up in my region, too, starting with the June bill (due in July).

Our electric company, "Entergy", says this is due to rising natural gas prices because of the war in Ukraine, and also because of the costs of repairing hurricane damage.

Quote:
Yovanka Daniel, Entergy Louisiana’s customer service vice president, said two rate increase categories for June bills involve a fuel adjustment to compensate for the natural gas cost spike, and a fee to offset restoration costs for extensive storm damage from hurricanes Laura, Delta, Zeta and Ida and Winter Storm Uri in February 2021.
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The global supply of natural gas is in flux as countries worldwide try to wean themselves off Russian energy because of the country’s war in Ukraine.
https://www.wwltv.com/article/news/l...0-3d11870543b7
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Old 06-18-2022, 06:32 PM   #20
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In Houston TX here. Highest increase I’ve seen.

I was paying 7.9c kWh for over 1k+ kWh usage and now it will be 12.9c. I did a 2 year contract.
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